Centennial quietly flips Brisbane warehouse with permit
EXCLUSIVE
Centennial has quietly sold one of two Brisbane industrial properties acquired four years ago from Pipeclay Lawson.
The asset manager is finishing well in the black – collecting $18 million for 87-93 Bancroft Road, Pinkenba.
It paid $10.42m.
Both times offered vacant, the buyer this time is an occupier; on 1.98 hectares it contains a 2251 square metre warehouse with an 8.5 metre clearance, completed in 2007, and a two storey office, with 583 sqm.
Centennial listed it with a new permit for another warehouse on a vacant rear tract abutting the waterfront.
CG Property Group’s Dan Munnich and Michael Callow brokered the off-market sale.
Pinkenba is about 10 kilometres north east of town, near Port of Brisbane.
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